Let the Bulls Run
I've been trading (mostly intraday and scalping) for around 10-15 years. I recently came across this forum which I find really informative, I wish I had found this a long time ago! I wanted to reach out to the veteran traders out there to see what your strategy and indicator preferences for scalping are, primarily around the 5 minute time frame. I'm not a big fan of loading my charts up with a million things, its just a distraction for me. I currently use price action, volume, and EMA's (to help monitor trend) along with support and resistance. My favorite ToS indicators are the Super Trend Indicator, TTM Squeeze, and TMO. Overall these indicators do well, however some days I will get whipsawed to death so I wanted to see what input I could get from the ones on here that are willing to share and collaborate. Also, I primarily trade TQQQ which is a 3X ETF, so most of the time I'm only looking for a $.50 to $1.00 increase in price before I get out. What I'm looking for is as much conformation I can get before entering the trade. I've tried increasing my time frame window (15 minutes - 1 hour) to allow more conformation before I enter the trade, although I feel that this doesn't help because the small gain I am looking for has already come and gone, or I'm not using the correct parameters. Going the other way (1-2 minute time frame) seems to hurt me as well due to too much noise. Any input form the veterans out there would be much appreciated.